If you are the co-buyer and you are the one making the payments can the buyer take your auto away?
Cosigning for ANYONE is one big mistake. If the person you cosign for is not making the payments then the person that cosigned is responsible for all payments. I have no idea why anyone would want to do this. Unless there were stipulations in the contract you signed with the buyer, then no, they can't just up and sell the car. Take another look at your contract. Marcy
The lender has the right to receive all the payments. A co-buyer has no rights TO the payments. The co-buyer is equally responsible for making the payments. The lender has the right to receive all the payments. A co-buyer has no rights TO the payments. The co-buyer is equally responsible for making the payments. The lender has the right to receive all the payments. A co-buyer has no rights TO the payments. The co-buyer is…
Well, it depends how the title was written. if it says buyer "or" cobuyer you dont need the other persons signature for anything .... if its written with "and" between your two names, u will have to have both people present to complete any removals or transfers. That or you can have the cobuyer sell u the car. They will still need to be present though.
If your concerned about your friends or relatives late payments on their car note then I suspect that you are not just a co signor but are actually a co-buyer. If you are a co-buyer on the note then your credit score will certainly be affected by your co-buyers late payments and could also result in your insurance rates going up as well as increased interest rates on your credit cards and any other variable…
If there is a buyer and co-buyer and the buyer does not want the auto can the co-buyer take over the loan because the buyer gets all the credit?
Liability Coverage under an auto policy has what components: Medical payments Collision Comprehensive None of these Liability Coverage under an auto policy has what components: Medical payments Collision Comprehensive None of these Liability Coverage under an auto policy has what components: Liability Coverage under an auto policy has what components:
You can calculate your auto loan payments by using an auto loan calculator that can be found on various websites. You will need to enter the following information into the online auto loan calculators: The purchase price, the cash rebate, the value of your trade in,what you had previously owed from your trade in, your down payment, and your interest rate.
Is it better to finance an auto purchase with a small down payment and high monthly payments or high down payment and small monthly payments?
The answer is that the cosigner would be left responsible for taking over the payments. If the cosigner wants to maintain his or her credit rating (which is probably damaged due to your filing bankruptcy), If the consignor does not want the auto loan people to sue for any remaining balance, then he or she will need to keep making the payments. If the auto loan company sues for any remaining balance and gets a…
If someone cosigns on an auto loan and you want to sell the car before it is paid off does the cosigner need to be a part of the sale?
Both the buyer and co-buyer are equally and completely responsible. All parties on a contract are 100% responsible to pay the note in full per the terms of the contract. Neither person is "more" responsible than the other. My suggestion is to help the bank find the auto and they may cut you some slack on the any remaining balance after the sale out of good faith but they have no obligation to do so.
If your co-signer is the only one on the auto loan but you are the driver and making the payments does the insurance have to be in your name or the co-signers?
There is not easy way to get out of a auto lease after you have driven the car off the lot. Read the auto lease before signing for the options to return the vehicle, rolling the payments into a New Vehicle if found defected under warranty, voluntary repossession due to income or health changes, bank refinancing for new ownership or for someone else to assure the payments.
If you are a cosigner on a vehicle loan and your name is listed on the title as OR then what rights do you have when the primary buyer defaults on payments?
You have the right to pay the loan. When a cosigner enters into a loan agreement he is promising to assume responsibility for the debt should the borrower ever default on the loan. This means simply that if the borrower stops making payments the cosigner will have to take over the payments. You may even be responsible for the full payment of the loan in the event that the borrower dies or is disabled. The…
Yes, Almost every Auto finance contract requires the buyer to carry Full coverage auto insurance for the term of the finance note. Failure to company with the terms of the finance contract you signed is a default on the part of the buyer and subjects the vehicle to repossession and other remedies at the disposal of the finance company.